Title:Text Mining of Online Reviews: Insights for Marketers
Presenter:Professor SanjoyGhose ,Lubar School of Business, University of Wisconsin-Milwaukee
Time:2018.7.5 10:00-12:00
Location:A1028
Invited by:Prof.Jinsong Huang
Abstract:
The amount of information in text reviews is tremendously greater than that in typical numerical data. A major challenge for marketers is how to extract the most relevant information from this big data source; we do this by using a text mining methodology that draws on machine learning algorithms. We collect data using a Java WebCrawler type programming approach. We use a word-based model to predict consumers’ recommendations. Model prediction accuracy was high. An interesting finding from our research is that as the number of textual features increases, the predictive accuracy of the model increases only up to a point. Beyond that, inclusion of more words in the model leads to a decrease in predictive accuracy. We also use a diagnostic approach to identify key words that are determinants of user recommendations; this is a major part of our findings and the potential for marketing implications seems considerable.
About the presenter
Sanjoy Ghose，Director of PhD Program, Professor of Marketing
Education
PhD, Marketing (minor Statistics) Carnegie-Mellon University
MS, Marketing, Carnegie-Mellon University
MBA, Washington State University
BTech (Honors with First Class), Electrical Engineering, Indian Institute of Technology, Kharagpur, India
Areas of Expertise
Dr. Ghose specializes in modeling consumer perceptions and consumer choice. His current research focuses on modeling issues in areas such as competitive market structure analysis, the interactions between Internet marketing strategies and consumer preferences, consumer search behavior in the online domain, online retail competition dynamics, the impacts of advertising on consumer choice, and optimum product design. His other research interests include the marketing-manufacturing interface, reference pricing effects, and purchase incidence models.
Professional Activities
Dr. Ghose has published over 50 academic papers. His articles have appeared in the Journal of Marketing Research, Marketing Letters, Journal of Advertising Research, Production and Operations Management, Computers & Operations Research, Journal of Business Research, International Journal of Forecasting, European Journal of Operational Research, Communications in Statistics: Theory and Methods, Journal of Business, Journal of Retailing, the Journal of Marketing, and Marketing Science. He has served as reviewer for the Journal of Consumer Research, Journal of Marketing Research, Journal of Business Research,Production and Operations Management Journal, Computers & Operations Research, Journal of Business Economics and Statistics, and Organization Science. Dr. Ghose has also served as a reviewer for the National Science Foundation (NSF) on the subject of forecasting by using neural networks. He is a member of the Institute of Operations Research and Management Sciences (INFORMS). He is an Editorial Board Member of the Journal of Business Research.
